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AI Eye Episode 451: Kroger (NYSE: $KR) Launches AI-Powered Chefbot and Rekor Announces Rekor (NasdaqGS: $REKR) One Roadway Intelligence Platform

 

Point Roberts, WA and Vancouver, BC - October 12, 2020 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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AI Eye Episode 451: Kroger (NYSE: $KR) Launches AI-Powered Chefbot and Rekor Announces Rekor (NasdaqGS: $REKR) One Roadway Intelligence Platform

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (NYSE:KR) (NasdaqGS:REKR)

The Kroger Co. (NYSE:KR) has launched the first generation of Chefbot, described as an "AI-powered Twitter recipe tool that helps users' pair the groceries in their fridge and reduce food waste by providing mealtime inspiration and personalized recommendations." Chefbot works by analyzing photos of ingredients, scanning from thousands of recipes, and delivering personalized recommendations to the user. The service was developed in partnership with creative and media agency 360i. Menno Kluin, Chief Creative Officer, 360i, said:

"Chefbot illustrates how marketers can tap into augmented intelligence to deliver true service and value. Innovation often happens during times of seismic change. By leveraging visual AI in a bold new way, Kroger is bringing their promise of Fresh for Everyone to life while addressing pain points and helping shoppers maximize their purchases."

AI-based roadway intelligence firm Rekor Systems, Inc. (NasdaqGS:REKR) has announced Rekor One, described in the press release as "a new platform that will serve as a unifying source of roadway intelligence for government agencies across cities, counties and states." Robert Berman, President and CEO, Rekor, explained:

"We are launching Rekor One to help governments streamline critical public safety and roadway information across their agencies. Each individual agency will have the capability to both reduce capital expenditures and collect different data driven insights - all from the same cameras -- securely and in real time. This platform strengthens our commitment to assist the public sector in the creation of smarter roadways, safer communities and smart cities."

Global Edge AI Software Market to Reach $3.093 Billion by 2027

A report published by Research Dive finds that the global Edge AI Software market will grow from $435.9 million in 2019 to $3.093 billion by 2027, registering a compound annual growth rate (CAGR) of 28.8 percent in that forecast period. An excerpt from the report overview outlines how the COVID-19 pandemic could actually be beneficial to the market's growth.

The pandemic has created a positive impact on the global edge AI software market. It has been noticed that due to pandemic [many] organisations are shut down. The manufacturing units have been impacted negatively due to the pandemic. Most companies are preferring to adopt edge AI software for complete automation in work processes to run the operational flow smoothly, which is predicted to boost the global market in the estimated period.

Sam Mowers, Investorideas.com

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